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How do you trade in a fast market if you don't know the percentage that they will later bust at? Your explanation may reflect reality, but it totally blows and rewards losers.

By "pre-defined," you mean "we can make any percentage up and you have to eat sh*t and die if you don't like it."

But Cramer said Lenny Dykstra is one of the "great ones": http://www.youtube.com/watch?v=Lo77x4VeoQE Confused. :confused:

Yes it can. It is just as illegal as saying a trade never happened. If people can say trades didn't happen when they did, they can certainly modify prices on trades.

Its more logical than busting with no penalty for the idiot who put in the idiotic order.

Its good that you know how to look words up. Next look up the meaning of "hedge."

How is that a hedge? If I am long stock, how is going long futures a hedge? To be hedged you go long one thing and short another.

How is that a hedge when you are already long stock?

Huh? So when you get filled long on PWV at $0.20, then short an equivalent amount of futures? Once PWV gets busted, you just got screwed on your "hedge" because you got a crap futures fill on that downdraft.

Margin calls are great for people who don't overleverage and are able to take advantage of the situation. Margin calls are not inherently bad.

I am totally against any interruptions or cooling off periods. Let stuff trade where it is going to trade. In fact, if you artificially prevent price discovery, that is when people really start to panic. For example, there's nothing like a limit-up or limit-down day on a commodity futures...

In essence then, you support the idea of rewarding people for making mistakes and screwing people over who trade well.

But the point of the auto-liquidator is not to protect the idiot on margin, it is to protect all the non-idiots not on margin. And the reason I am comfortable keeping my cash at IB is that they will liquidate positions first and ask questions second. In this particular case, we still don't know...

And I always find it suspicious when people claim the elimination of the uptick rule exacerbated the financial crisis. You know why? Because when shorting was declared ILLEGAL on financial securities, the market got freaking hammered. Wait, I thought that if there was no shorting that couldn't...

Seems like we have to wait and see what IB says about this particular incident before coming to any conclusions. I don't trade options, just stocks. In my experience, IB will not liquidate stocks in afterhours trading - I've gotten a margin call in the afterhours market and no action was taken...

I believe there was an incident a few years back involving one of the education stocks (maybe CECO or APOL?). Lots of people bought the stock on a huge dip (fat finger error), then sold as the stock was recovering. Later, the exchanges came back with a bust percentage that screwed over a ton of...

Did anyone notice that Cramer can't do remedial math as shown on Mad Money tonight? Is a $40 print on PG > 60% off? According to Cramer it is.

Inherited 20k. Invested in a basket of internet stocks back in the day before they rocketed higher. Turned 20k into 100k by dumb luck. That was my bankroll.

Nothing is reasonable because if they get their foot in the door, it will be so much easier in the future for them to just start raising the fee whenever it suits them. There must be NO transaction tax. None at all. Just like there must not be a VAT tax.

A consumption tax is fine AS LONG AS THERE IS NO INCOME TAX. An income tax is fine AS LONG AS THERE IS NO CONSUMPTION TAX.